Value of Weather Information in Road Management

Abstract

The value and benefits of weather information in the management, planning and operating of transport systems is undeniable. But what is the true value in the light of present body of knowledge?
This paper reviews about 50 relevant studies related to the question and attempts to summarise the results. It also sets the framework of generic valuation problem by introducing most applicable valuation methods and techniques.
It is argued that in fact the valuation problem wells from the theory on information economics. The background for this paper is in the study where the benefits of the Finnish Meteorological Institute’s information services to the users and to the society as a whole were valued (Hautala & Leviäkangas 2007).
A review of more than 100 studies was carried out covering all transport modes. More than three quarters of those studies were focusing on road management and road transport.
Most of the last mentioned dealt also with winter road management. This review paper draws the summary of those studies and supplements the empirical material (i.e. the studies) with more recent findings.
Four angles of benefits are identified: 1) road users; 2) road operators, service providers and contractors; 3) infrastructure managers; 4) externalities.
Hence the review contributes not only to business perspectives but also to policy level decision making.
The review also attempts to pick out the best examples of services, processes and operations that seem to have the greatest beneficial value in the light of past investigations, but also where some potential benefits could be gained if the technological possibilities are utilised to the maximum.
In many cases also organisational and institutional factors might build thresholds to potentially value-generating services and ways of operation.
A very comprehensive list of references is provided in the paper.
The reviewed study material is clearly concentrating on Scandinavia, North America and Japan, not surprisingly.

abstract = "The value and benefits of weather information in the management, planning and operating of transport systems is undeniable. But what is the true value in the light of present body of knowledge? This paper reviews about 50 relevant studies related to the question and attempts to summarise the results. It also sets the framework of generic valuation problem by introducing most applicable valuation methods and techniques. It is argued that in fact the valuation problem wells from the theory on information economics. The background for this paper is in the study where the benefits of the Finnish Meteorological Institute{\textquoteright}s information services to the users and to the society as a whole were valued (Hautala & Levi{\"a}kangas 2007). A review of more than 100 studies was carried out covering all transport modes. More than three quarters of those studies were focusing on road management and road transport. Most of the last mentioned dealt also with winter road management. This review paper draws the summary of those studies and supplements the empirical material (i.e. the studies) with more recent findings. Four angles of benefits are identified: 1) road users; 2) road operators, service providers and contractors; 3) infrastructure managers; 4) externalities. Hence the review contributes not only to business perspectives but also to policy level decision making. The review also attempts to pick out the best examples of services, processes and operations that seem to have the greatest beneficial value in the light of past investigations, but also where some potential benefits could be gained if the technological possibilities are utilised to the maximum. In many cases also organisational and institutional factors might build thresholds to potentially value-generating services and ways of operation. A very comprehensive list of references is provided in the paper. The reviewed study material is clearly concentrating on Scandinavia, North America and Japan, not surprisingly.",

N2 - The value and benefits of weather information in the management, planning and operating of transport systems is undeniable. But what is the true value in the light of present body of knowledge?
This paper reviews about 50 relevant studies related to the question and attempts to summarise the results. It also sets the framework of generic valuation problem by introducing most applicable valuation methods and techniques.
It is argued that in fact the valuation problem wells from the theory on information economics. The background for this paper is in the study where the benefits of the Finnish Meteorological Institute’s information services to the users and to the society as a whole were valued (Hautala & Leviäkangas 2007).
A review of more than 100 studies was carried out covering all transport modes. More than three quarters of those studies were focusing on road management and road transport.
Most of the last mentioned dealt also with winter road management. This review paper draws the summary of those studies and supplements the empirical material (i.e. the studies) with more recent findings.
Four angles of benefits are identified: 1) road users; 2) road operators, service providers and contractors; 3) infrastructure managers; 4) externalities.
Hence the review contributes not only to business perspectives but also to policy level decision making.
The review also attempts to pick out the best examples of services, processes and operations that seem to have the greatest beneficial value in the light of past investigations, but also where some potential benefits could be gained if the technological possibilities are utilised to the maximum.
In many cases also organisational and institutional factors might build thresholds to potentially value-generating services and ways of operation.
A very comprehensive list of references is provided in the paper.
The reviewed study material is clearly concentrating on Scandinavia, North America and Japan, not surprisingly.

AB - The value and benefits of weather information in the management, planning and operating of transport systems is undeniable. But what is the true value in the light of present body of knowledge?
This paper reviews about 50 relevant studies related to the question and attempts to summarise the results. It also sets the framework of generic valuation problem by introducing most applicable valuation methods and techniques.
It is argued that in fact the valuation problem wells from the theory on information economics. The background for this paper is in the study where the benefits of the Finnish Meteorological Institute’s information services to the users and to the society as a whole were valued (Hautala & Leviäkangas 2007).
A review of more than 100 studies was carried out covering all transport modes. More than three quarters of those studies were focusing on road management and road transport.
Most of the last mentioned dealt also with winter road management. This review paper draws the summary of those studies and supplements the empirical material (i.e. the studies) with more recent findings.
Four angles of benefits are identified: 1) road users; 2) road operators, service providers and contractors; 3) infrastructure managers; 4) externalities.
Hence the review contributes not only to business perspectives but also to policy level decision making.
The review also attempts to pick out the best examples of services, processes and operations that seem to have the greatest beneficial value in the light of past investigations, but also where some potential benefits could be gained if the technological possibilities are utilised to the maximum.
In many cases also organisational and institutional factors might build thresholds to potentially value-generating services and ways of operation.
A very comprehensive list of references is provided in the paper.
The reviewed study material is clearly concentrating on Scandinavia, North America and Japan, not surprisingly.